Clothes. Makeup. Cars. There's a countless array of products available to us as consumers. These products vary in level of prices from dirt cheap all the way to the premium prices. If there are products available to us for cheap that are functional, why do we pay the high prices? Here are a few reasons I believe explain that reasoning.
1. Word of Mouth Hype
Every single college student seems to have a MacBook Air, and we all know that those don't come cheap. So why do so many students continue to buy them? Because we continue to tell our friends and people on the internet via a tweet or status update how AMAZING our laptop is. That in turns builds up hype that keeps so many customers buying these high-priced laptops.
2. Self-Esteem
We as humans have an innate desire to be accepted by a certain group of people. In order to be accepted, we choose to buy the higher brands that everyone seems to be wearing. New high price clothes can equal social acceptance and that builds up our self-esteem.
3. Building A Collection
For some people, they like to collect high price clothes, bags, or shoes because they are viewed as collector's items and investments. I like to buy Kate Spade purses personally because I think they are such a classic design and very well-made.
4. Personal Image
Back in high school, a girl would shell out money on certain items of clothing. It became her aesthetic though. Everyone in school would recognize her based on her outfits and they didn't even have to see her face. What we wear adds to our personal brand and what people choose to view us as.
5. Being A Fan of A Brand
Lululemon. Some girls are absolutely obsessed with that brand. Do lots of other companies also carry quality workout leggings? Yes. Do they buy them? Not really. Because they are so loyal to that brand, they choose to pay the higher price. They believe that other leggings don't compare.
